- My Leadership style : Delegative, Participative as well as Authoritative.
- The Political Leader I admire the most : Sardar Patel
- The business leader i admire the most : J.R.D. Tata
- The leadership lesson i remember best: The best way to predict the future is to create it.
- A book i would recommend on leadership : Blue Ocean Strategy by W. Chan Kim & Renee Mauborgne
- The difference between a manager & a leader : A manager gets the job done, while a leader creates the reason to get it done.
- All good managers are no good leaders: No
They don’t want a relationship with you. Just help them make good choices.
Marketers see today’s consumers as web savvy, mobile -enabled data sifters who pounce on whichever brand or store offers the best deal. Brand loyalty, the thinking goes , is vanishing. In response, companies have revamped up their messaging, expecting that the more interaction & information they provide, the better the chances of holding on to these increasingly distracted & disloyal customers. But for many consumers, the rising volume of marketing messages isn’t empowering- its overwhelming. Rather than pulling customers into the fold, marketers are pushing them away with relentless & ill- concieved efforts to engage.
What consumers Really Want?
Businesses broadly misjudge what consumers want from them online. In particuar, marketers often believe that consumers interact with them on social media to join a community & feel connected to the brand. But consumers have little interest in having a relationship beyond the merely transactional. Their top reasons for connecting online, to get information & discounts, & to buy things
Consumers Actual Reasons
Why they interact with companies via social sites
- 61% discount
- 55% purchase
- 53% reviews & product rankings
- 53%General Information
- 52%Exclusive information
- 51%Learn about new products
- 49% submit opinion on current products /services
- 37% customer service
- 34% event participation
- 33% feel connected
- 30% submit ideas for new product/ services
- 22% Be part of a community
Businesses’ Perceived Reasons
Why consumers follow them via social sites
- Learn about new products 73%
- General Information 71%
- Submit opinion on current products/ services 69%
- Exclusive information 68%
- Reviews & product rankings 67%
- Feel connected 64%
- Customer Service 63%
- Submit ideas for new products / services 63%
- Be part of a community 61%
- Event participation 61%
- Purchase 60%
- Discount 60%
Some Important points throughout this article:
- Poor returns from equity business due to low valuations
- Existing investments & spotting new opportunities proving difficult
- Promoters unwilling to divest in volatile market
- Banks faced with bad loans turning cautious
- Regulatory arbitrage due to restrictions on banks to lend for real estate & capital market activities
- IPO & other sources of raising money dried up for companies
Just 10 years ago , western executives returning from trips to India & China would say : I think the one to watch is India, not China.
They couldn’t have been more wrong . China has routed India. The Primary reason is that Indian Leaders are not transforming their business culture to one driven by meritocracy, where people feel fulfilled.
My Recommendation, Indian leaders should change all their metrics. They should stop placing emphasis on GDP, interest rates & inaccurate unemployment data. They should move to new metrics of behaviourial economics – to states of mind versus simple transaction data. These metrics are:
- percentage of good jobs
- percentage of engaged & actively disengaged workers
- perceptions of government & business corruption
- belief that working hard will get you ahead
- perception that India is a good place to start a business
- percentage of those saying they are dissatisfied with their personal freedom
- percentage of those who rate their lives so poorly they are considered suffering.
Ask about every decision taken, what does this have to do with driving the above demands?
1. The Materialist Myth : In a free economy someone can get wealthy, not merely by having someone else’s wealth transferred to their account, but by creating new wealth , not only for themselves , but for others as well.
2. The Greed Myth : Capitalistic route can bring social beneficial outcomes. Smith wrote business people are led by an invisible hand
& thus without intending it , without knowing it, advance the interest of the society.
Rather than inspire miserliness, capitalism encourages enterprise.
Entrepreneurs including greedy ones, succeed by delaying their own gratification, by investing their wealth in creative but risky ventures that may or may not pan out.